as a percentage of GDP (at it’s peak the national debt Truman was handling represented 117% of GDP) then what makes people think Obama won’t be able to do the same as we start climbing out of the Bush/Cheney Recession?
The recession has caused many consumers to cut back on monthly spending.Carrying a monthly balance seems more like a luxury than a necessity
This is getting sad, I work in a fairly “well off” town that has skirted most of this depression/recession so far but this morning it seems like it’s rolling into our town full steam… I just found out a long time restaurant is having to close it’s doors after 20 years, and I just got [...]
When I was younger I got 5 credit cards and didnt understand that I didnt actually have the money I was spending. I have paid off most of the cards except my sears account. I only used $ 1000 but my current balance is $ 2795 and I dont really have this type of money [...]
1. Set up an apple cider stand on a crisp fall day. 2. Start a gift-wrapping service at the holidays. 3. Sell items from the attic using an on-line auction service. 4. Wear your winter coat one more season 5. Set up an automatic paycheck withdrawal for $ 2 per week. 6. Hold a garage [...]
Jun 082011
I have written about the great imbalances of the US economy. Yet in all of my previous articles on the subject I have been unable to pinpoint when these imbalances will result in a bust. One can never be completely sure of the future, of course, as one does not have full information about all [...]
Jun 072011
I form non bias opinion on answers. I will provide evidence on why we are in a recession. If you don’t agree then that is you’re own decision and it is respected by me. However I will challenge you to see what parts of this info is not seen in the market…and why it cannot [...]
Is the recession over for anyone else besides Goldman Sachs, Fannie Mae, Wells Fargo, Citigroup, Bank of America(–>Countrywide
May 262011
PLEASE……if you disagree please read the link below 1999 “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.” Read the rest here http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&n=Top%2FReference%2FTimes%20Topics%2FSubjects%2FM%2FMinorities%20(US)
This study says it all comes down to there being nothing to back inter-bank loans: “The REPO market of interbank loans had always existed but it grew dramatically in the 1990s to support securitization. But since there was no deposit insurance for institutional loans measured in hundreds of millions of dollars, counterparties demanded collateral to [...]
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